Search
South Korea to Unveil Guidelines Barring the Listing of Hacked Coins
7.4.2024
South Korean authorities are reportedly planning to release updated guidelines for virtual asset trading. These guidelines will prohibit the listing or relisting of coins that have previously been hacked. Additionally, the guidelines will require issuers of “foreign” virtual assets...
Deribit’s Dubai Unit Receives ‘Conditional’ Virtual Asset Service Provider License
3.4.2024
Deribit FZE, an entity owned by crypto derivatives platform Deribit, has secured a conditional virtual asset service provider from the Dubai virtual assets regulator. The license, which covers spot and derivative trading, will remain non-operational until Deribit meets the regulator’s localization...
France’s AMF Issues Warning Against BITGET for Unauthorized Digital Asset Services
2.4.2024
AMF issued a circular on the supervision and issuance of virtual assets in the country, with BITGET on the list of those that offer crypto investments through unauthorized entities.
The post France’s AMF Issues Warning Against BITGET for Unauthorized Digital Asset Services appeared first...
VARA’s CEO Predicts Boom in UAE Crypto Market Post FATF Grey List Exit
8.3.2024
Matt White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), sees the Financial Action Task Force’s removal of the UAE from the grey list as a positive move, clearing the way for increased crypto-related investments.
The post VARA’s CEO Predicts Boom in UAE Crypto...
Crypto Lender Nexo Receives Initial Approval for Dubai License from VARA
5.3.2024
Dubai's Virtual Assets Regulatory Authority (VARA) has awarded a virtual asset service provider (VASP) license to Bulgarian decentralized lending platform Nexo.
The post Crypto Lender Nexo Receives Initial Approval for Dubai License from VARA appeared first on Cryptonews
Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’
1.3.2024
The Financial Action Task Force (FATF) has downgraded Russia’s compliance rating due to its “insufficient regulation of virtual assets and cryptocurrencies.”
The post Russia FATF Rating Downgraded Due to ‘Insufficient Crypto Regulation’ appeared first on Cryptonews
China to Revise AML Law to Address Risks Associated with Virtual Assets
15.2.2024
China is set to revise its outdated Anti-Money-Laundering (AML) law in a bid to tackle the increasing risks associated with virtual assets. The draft amendment, discussed at a State Council meeting chaired by Chinese Premier Li Qiang, will soon undergo review by the national legislature, according...
South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
15.2.2024
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency...
US Treasury to Discuss Crypto Finance Concerns at Congressional Hearing
14.2.2024
The United States Treasury is gearing up to address Congress on the emerging challenges posed by cryptocurrencies to existing financial regulatory frameworks. In his prepared testimony for the House Financial Services Committee, Brian Nelson, Treasury’s Under Secretary for Terrorism...
Crypto Infrastructure Firm Aquanow Obtains VASP License in Dubai
13.2.2024
Canadian-based crypto infrastructure firm Aquanow acquired a Virtual Asset Service Provider (VASP) license from financial authorities in Dubai. In a Feb 12 announcement, Aquanow disclosed that it received the regulatory nod from the Virtual Assets Regulatory Authority (VARA) in Dubai to offer...
Kenya Advances Toward Digital Asset Hub Ambition With Virtual Assets Bill – Kenya Blockchain Association
9.2.2024
The Blockchain Association of Kenya (BAK) is reportedly on the verge of launching a community-led draft bill, a significant stride towards its objective of transforming Kenya into a hub for digital assets. BAK has expressed its intention to integrate feedback from stakeholders into a revised draft....
Illicit Virtual Asset Use On The Rise, U.S. Treasury Report Reveals
7.2.2024
The U.S. Treasury Department is seeing an increase in illicit crypto use according to a Thursday report. The department’s 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing report highlights that virtual assets are increasingly used by illicit...
Hong Kong Securities Regulator Issues Warning to Unlicensed Virtual Asset Trading Platforms
6.2.2024
The region’s securities regulator has said that Hong Kong crypto investors must only use or trade on approved virtual asset trading platforms. The regulator urged crypto investors using platforms not featured on its two lists to close accounts or transfer funds to licensed entities. Verifying...
Hong Kong to Strenghten OTC Crypto Market Regulation
29.1.2024
Hong Kong will now focus on regulating over-the-counter (OTC) cryptocurrency trading, according to local sources. Under Secretary for Financial Services and the Treasury Joseph Chan Ho-lim stated that the government will aim to mitigate the risks of virtual assets amidst the rising interest...
OKX’s Middle East Business Wins Dubai Virtual Assets License
16.1.2024
OKX Middle East Fintech FZE will be offering local currency trading pairs such as AED/BTC, AED/ETH, and more in the coming weeks, said OKX General Manager for MENA Region Rifad Mahasneh
Hong Kong’s shot at claiming the majority field of virtual assets
11.1.2024
Hong Kong woke up to the news about the US SEC approving Spot Bitcoin ETF applications. This has paved the way for more formal investment proposals by traders, irrespective of their experience. The news about the approval of Bitcoin ETF applications has sparked the keen interest of a notable...
Report: Taiwan Police Arrest Crypto Exchange Bosses Accused of Fraud
7.1.2024
The police in Taiwan recently arrested two individuals who are accused of deceiving 100 investors into buying fake virtual currencies. The police also apprehended 14 other participants in the fraud scheme and recovered more than $7 million in both cash and virtual currencies. Worthless Virtual...
South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement
5.1.2024
South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized...
Nigeria’s Central Bank Rolls Out Regulations For Financial Institutions Dealing with VASPs
4.1.2024
Source: AdobeStock The Central Bank of Nigeria (CBN) has issued new regulations to guide banks and other financial institutions that offer domestic accounts for virtual assets service providers (VASPs). In an official circular released on its website on Jan 3, the country’s leading banking...
Hong Kong Regulators Unveil Public Consultation Paper on Stablecoin Regulation
28.12.2023
Hong Kong Monetary Authority (HKMA) and Financial Services and the Treasury Bureau have released a public consultation paper to gather residents’ opinions on the proposed regulatory regime for stablecoin issuers. The HKMA also announced the introduction of a sandbox arrangement whose purpose will...